NOCIL Announces Quarterly Results (3QFY20); Net Profit Down 53.7%

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NOCIL Announces Quarterly Results (3QFY20); Net Profit Down 53.7%
Fri, 31 Jan

NOCIL has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

NOCIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m2,6122,0971,943-7.4%-25.6%
Other incomeRs m202513-48.4%-36.3%
TurnoverRs m2,6332,1221,956-7.8%-25.7%
ExpensesRs m1,8871,6181,586-2.0%-15.9%
Gross profitRs m725479357-25.5%-50.8%
DepreciationRs m5677792.9%40.4%
InterestRs m133-3.0%357.1%
Profit before taxRs m688423287-32.1%-58.3%
TaxRs m242-12981-66.7%
Profit after taxRs m447552207-62.6%-53.7%
Gross profit margin%27.822.818.4
Effective tax rate%35.1-30.428.1
Net profit margin%17.026.010.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 25.6% on a year-on-year (YoY) basis. The expenses were down by 15.9% YoY during the same period.
  • The company's operating profit declined by 50.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.4% in 3QFY20 as against 27.8% in 3QFY19.
  • Depreciation charges increased by 40.4% and finance costs increased by 357.1% YoY, respectively.
  • Other income declined by 36.3% YoY during the quarter.
  • Net profit for the quarter declined by 53.7% YoY. Net profit margins during the quarter declined from 17.0% in 3QFY19 to 10.6% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.0% QoQ during the same period.
  • The company's operating profit declined by 25.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.4% in 3QFY20 as against 22.8% in 2QFY19.
  • Net profit for the quarter declined by 62.6% QoQ, while net profit margins declined from 26.0% in 2QFY19 to 10.6% in 3QFY20.

To see how NOCIL has performed over the last eight quarters,please visit here.

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NOCIL Share Price Performance

Over the last one year,NOCIL share price has moved down from Rs 145.1 to Rs 97.8, registering a Loss of Rs 47.4 or around 32.6%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,088.1 (down 1.5%). Over the last one year it has moved up from 13,612.3 to 14,088.1, a gain of 476 points (up 3.5%).

Overall, the S&P BSE SENSEX is up 15.0% over the year.

Current Valuations

At the current price of Rs 97.8, the price to earnings (P/E) ratio of NOCIL stands at 11.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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